2024 – The cost of equipment purchased by Charleston Inc on June 1 2014 Depreciation for Partial Periods SL Act SYD and Declining Balance
The Cost Of Equipment Purchased By Charleston, Inc., On June 1, 2014, – 2024
The cost of equipment purchased by Charleston, Inc., on June 1, 2014
(Depreciation for Partial Periods–SL, Act., SYD, and Declining-Balance)
The cost of equipment purchased by Charleston, Inc., on June 1, 2014, is $89,000. It is estimated that the machine will have a $5,000 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 42,000, and its total production is estimated at 525,000 units. During 2014, the machine was operated 6,000 hours and produced 55,000 units. During 2015, the machine was operated 5,500 hours and produced 48,000 units.
Instructions
Compute depreciation expense on the machine for the year ending December 31, 2014, and the year ending December 31, 2015, using the following methods.
(a)Straight-line.
b)Units-of-output.
(c)Working hours.
(d)Sum-of-the-years’-digits.
(e)Declining-balance (twice the straight-line rate).
Need assignment writing services that are 100% risk-free. Our writers are capable of providing the best assignment help to students in globally at best rates.
Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...
#write essay #research paper
